My concern is that the house is in need of major repairs. 

Another artifact is that they don't seem to take lot size into account at all, when in an urban gentrified area the land has become the majority component of value. 

Defiantly creates some major challenges for me as a potential buyer. 

I have no skills currently in the home renovation department, interior design, etc.

I would tag the state and nearest major city in your post so that people in that area will get a keyword notification of your post.

I will tell some major things that will allow you to be safe and productive.Beware off all communication on the Internet, especially if you don't know them. 

Since this property has a major rehab and sat vacant for several years prior, there is no data to present regarding the NOI...

Delinquent interest is more than likely the majority of why the bank is asking for $145M.

It doesn't help that the National Floodplain maps are outdated and universally acknowledged to be "politically influenced" (as certain neighborhoods in Houston demonstrated).Maybe it's a bit short-sighted but with plenty of solid places to invest (major cities with booming job markets), it makes pulling the trigger on Florida an unenthusiastic choice.

In some cases if the deal is really good, the majority of the funds will be covered.